How to become an Approved Verifier
What is an Approved Verifier
Under the Climate Bonds Standard and Certification Scheme, the bond issuer needs to engage one of our Approved Verifiers who will check their bond against our Standard and specific technical criteria (eg solar energy).
This is a growing field and more companies around the world are joining our Scheme to become an Approved Verifier, in order to help us Certify the increasing number of green bonds.
For details of the Climate Bonds Standard Assurance Framework and Guidance for Verifiers, please visit our Verifier Resource Page.
Requirements to become an Approved Verifier
In order to become an Approved Verifier, the company must demonstrate that they have competence and experience in the following three areas:
- Issuance of debt instruments in the capital markets and management of funds within issuing organisations
- Technical characteristics and performance of low carbon and climate resilient projects and assets
- Provision of assurance services in line with accepted international standards (ISAE 3000 or equivalent)
Verifiers are expected to use teams of professional staff and/or insured contractors who meet all of these requirements for each engagement. This also includes the particular characteristics of the issuer, the bond and the assets being financed.
In addition to the 3 criteria laid out above, approval of Verifiers is also based on their geographic coverage and areas of technical competence:
- Geographic coverage of the approval is aligned with the coverage provided by the verifier’s insurance policies for professional indemnity / professional liability
- Technical scope of the approval is determined by the verifier’s levels of experience and expertise in the various asset classes covered by the Climate Bonds Standard
Our Approved Verifiers are listed here along with their geographic scope, technical scope and contact details.
Training, support and oversight of Approved Verifiers are provided by the Climate Bonds Secretariat.
How to apply
Potential Verifiers should write to us, introducing their company and detailing how they meet the 3 requirements stated above. The information they should supply is detailed below. They may apply for approval at any time throughout the year.
Applications from verifiers are assessed for completeness and then considered by the Climate Bonds Standard Board.
Verifiers must also sign the Climate Bonds Verifier Agreement and upon approval, receive our formal Letter of Approval and Certificate before they can commence their first Verification engagement.
To Apply or Contact us
Please see our documents regarding Verifiers in our Resources page.
For more information or to apply, please email us or send us your application documents at firstname.lastname@example.org
Information and evidence verifiers must include in their application for approval
Verifier approval decisions taken by the Climate Bonds Standard Board are based on the information contained in the application and other documents provided by the applicant verifier.
- Applicant verifiers must demonstrate that the Verification Teams they will use for engagements have competence and experience in:
- Issuance of debt instruments and management of funds within issuing organisations
- Technical characteristics and performance of low carbon climate resilient projects & assets
- Provision of assurance services in line with recognised standards (ISAE3000 or equivalent).
The competence of the individual staff and/or contractors to be used in Verification Teams can be shown via detailed resumes, project references, work products and other information relevant to the requirements.
- Verifiers must provide detail on their company's structure, organisational capabilities and financial stability. This includes:
- Formal company details including registration numbers, company officers, and business addresses
- Information on the company’s ownership structure, business model, financial history and stability, and competence of the management team
- Membership of professional organisations, government licenses and relevant certifications
- Information on material contractual obligations or contingencies and any lawsuits or government proceedings involving the company.
- Verifiers must have Professional Indemnity / Professional Liability insurance which covers their verification work. The insurance policy must specify the geographic coverage.